Sallie Mae Can’t Shake Late-Fee Class Action

Law360, New York (February 14, 2012, 2:36 PM EST) -- A federal judge on Monday refused to dismiss a suit claiming Sallie Mae Inc.'s late fees violate California consumer-protection law, ruling the student-lending giant hasn't shown that the National Bank Act preempts the proposed class action.

U.S. District Judge Elizabeth Laporte declined to dismiss Tina Ubaldi's suit as preempted by the NBA and ordered more discovery into whether Sallie Mae can be liable under state law as her “de facto” lender when her loan application listed a national bank as lending her the $22,765 for her...
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